position ON THE
ISSUE
The Coalition Government will continue to support pensioners and self-funded retirees.
In addition to guaranteeing record funding for Medicare and hospitals, the Government will support older Australians by boosting their financial security, helping those who want to work longer, and giving them more choice in their care. The Government will also protect older Australians from Labor’s Retirement Tax.
THE
FACTS KEY
POINTS
Financial Security for a Longer Life
Australians will be able to prepare for a longer life through new online skills, health and finance checks at ages 45 and 65.
The Pension Work Bonus will be increased so aged pensioners can earn an extra $50 per fortnight (up to $300 per fortnight) and for the first time self-employed pensioners can access the bonus and earn up to $300 per fortnight without reducing their pension. The Pension Loans Scheme will be expanded to give all Age Pension-aged Australians the option to boost their income by up to $17,787 for a couple.
Superannuation funds will be required to provide more information to help consumers compare and choose products.
Jobs and skills
The Government will provide advice on relevant skills and training to help workers build their careers or transition to jobs in new industries. For Australians updating their skills, the Government will contribute up to $2,000 through the Skills and Training Incentive, which will contribute up to $2,000 to help upgrade skills. Entrepreneurship Facilitators will be expanded to support Australians aged over 45 years to start businesses.
Access to the Restart wage subsidy for Australians over 50 will be expanded, providing up to $10,000 to employers to hire and support new workers. A new Skills Checkpoint will provide advice on skills and training opportunities to build careers or help transition Australians to
new roles.
More Choices for a Healthy, Long Life
To support Australians who wish to stay at home, the Government is providing an additional 14,000 high-level home care places, This adds to the 6,000 places the Government funded since the last budget.
Healthier Ageing
As well as Guaranteeing Medicare and ensuring access to cheaper and better medicines, the Government is investing more into mental health services for residents in aged care facilities and piloting mental health services for older Australians in the community.
ISSUES
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